GRT (Graph) is an Ethereum based token. The token is mainly issued to attract more users to add their computer systems to Graph’s network. GRT is mainly a search engine for blockchain transactions. It is a decentralized ecosystem for indexing and querying crypto trades on blockchain networks. Past Performance On February 23, 2021, GRT opened at $2.02. As of March 2, 2021, GRT closed at $1.93. Thus, the GRT price has declined over the past week. In the past 24 hours, the GRT price was fluctuating between $1.68 and $1.95. https://ift.tt/385mtWm Day-Ahead and Tomorrow Currently, GRT is trading at $1.87. The price has dipped from the opening price of $1.93. Therefore, the market looks bearish. The OBV indicator has risen since morning. Thus, buying volumes are higher than selling volumes. Hence, we can expect the price to rise in some time. The MACD and signal lines are positive. The MACD line is below the signal line. In other words, the bearish crossover by the MACD line over the signal line is indicative of bearish market momentum. Hence, the price may continue to decline further. The RSI indicator is presently at 56%. Half an hour back, it was in the ‘overbought’ territory indicating that there is a high demand for the GRT token. Thereafter, the RSI started falling. It faced rejection at 60% at fell to the current level. Thus, we can expect a price pullback. GRT Price Analysis Currently, the GRT price is above the Fibonacci pivot point of $1.85. A bullish price trend can be confirmed if the GRT price manages to break out of the first Fibonacci pivot resistance level of $1.96 in some time. The price has tested and fallen below the 23.6% FIB retracement level of $1.89. If it retests this level and breaks out of it, then we can be assured that a trend reversal has occurred. Else, the bear-run will continue today as well as tomorrow.
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